This Friday will be the deadline for the S to appeal the grayscale Bitcoin sport ETF and if the S doesn't fail an appeal It basically would mean that all the Bitcoin SP TTS will get accepted so this Is massive I will be exactly talking About what this means for Bitcoin what It means for gray skill and many more Important stuff because the inflation is Going to hit the markets today and many More important charts will be getting Discussed so without any further Ado Don't forget to sop up that like button Back up at 400 likes on today's upd the Video and if we can manage to do that That will be absolutely incredible and With that being said let me jump Straight away towards the imminent short Term for Bitcoin and yes once looking at The 8 minute shortterm for Bitcoin we Can clearly currently see Bitcoin is in A massive downward sloping move here and The question really remains where are we Going to be finding support and so far It actually looks to be that we have Found somewhat of a support level Because yes in yesterday's video I Talked about the 27 sorry the 26.7k to Be massive support for Bitcoin and like You can see after we broke out of this Symmetrical triangle we broke towards The downside and Bitcoin exactly bounced From 26.7k like I said and of course I've also opened up a small little short

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Position and actually we got perfectly Entered from of this trade and it said To everyone out there on 26.7k I'm going To close 40% of my profits so that was Exactly on the low right here and now Bitcoin has bounced a little bit towards The upside and the stop loss is already In profit so the trade is doing Absolutely fine here but for Bitcoin yes The question really remains are we Really going to be having another Massive move towards the downside since Yes we have officially broken below Critical support for the Bitcoin price Action right now here you can see this Level right here was one of the most Important levels and I said to everyone Out there either if we break up off the Top side or below the Lower Side we're Going to see some volatility and my next Price Target on this chart is around 24.8k what quite a bearish Target but Let me say this correctly because I will Be saying this as long as we're holding Up above this 26.7k on the 4 early time Frame I won't be expecting we're going To come down to 24.8k and if we manage To be bouncing back from of this level We can go back towards these highs of Around $28,000 but but but but if we manage to Break this level and we break below it We break and confirm the break on the 4ly time frame below 26.7k then I will

Be really expecting we are going to be Going down here so this is what I'm Looking at right now for the imminent Shortterm for Bitcoin I went through it Very quickly right now here but these Are all the most important things to be Looking at I mean looking at the Momentum on the 1 hour time frame we Don't really see a clear momentum Divergence and yes of course if you want To be trading this or joining me with Any trades here yeah there are a lot of Altcoin opportunities out there in the Market right now here make sure to go to Buybit because buybit allows you to be Opening up a trade and also if you are Going to be signing up an account and Buyit right now here you can actually Claim a free $1,000 used doar for only Depositing $100 in your first s days After you sign up an account using that Link below here because otherwise it Won't be valid so that's an absolutely Insane deposit bonus that's currently is Still running it's going to be available For another 20 days so make sure to come Very quickly and of course going in Towards the data later today in Approximately 6 hours from now on we're Going to see the core and regular Inflation hit the market and so far it's Predicted that the core inflation is Going to be dropping by 0.2% and like I've been setting saying on the videos

For many times before right what is very Important is that it is going to come in Colder than expected because if it's com In hotter than expected we're probably Going to see a big dump if it's going to Com in colder what means lower um than Expected we're probably going to see a Big pump here so that is what we're Looking at I will be giving you giving You guys many updates on my Twitter Channel as well here but but lately the Inflation data across the market really Has created less volatility but this Week we could be seeing of course quite A significant drop here so let's see Where this going to be coming in at Because yes the core inflation is Definitely the most important inflation To be looking at I mean it looks to be That regular inflation is probably going To be rising again here or is going to Be sticky and yeah as long as core Inflation drops it's going to be good so We're going to be keeping our eyes wide Open on that one as well then maybe Going in towards the most important news Out there is talking about the grayscale Bitcoin SPF because yes this Friday it's The deadline for the S to fil an appeal For the gr skull Bitcoin SPF and you Have to understand if they don't do that If they do not appeal this decision in Court what basically means they will Have no further option to decline any of

The Bitcoin sport ETFs because they will Just lose the case as well and that will Be very bad for bad for their track Record so at the same time we can see That the gbtc premium Gap is closing Quickly we'll be talking about that in a Second and what it means for Bitcoin but Bas basically this would potentially Mean that this Friday could be the Friday that we're going to see the Bitcoin sport ETFs going to get approved Basically this is gigantic news here and If it turns out that the S won't appeal The grayco Bitcoin SP ETF it will be Massive for the entire market so at the Same time we can see that actually the Uh G Grays skill BTC premium is really Running down very quickly what does it Mean right now the premium is sitting Around 16% here what basically means That you can buy a Bitcoin for 16% Discount and what would mean for an Approximately $222,000 us and yes once The fund gets converted in a spot ETF You can basically get your Bitcoins out Of it and and you basically bought your Bitcoins with an approximately 16% Discount what is of course absolutely Massive so we can see the the G Grays Skill premium Gap here is really running Back here after it lows from the bare Market and I mean if you would have Bought Bitcoin here in the gry skill Fund around $17,000 you also had a 50%

Discount what meant that you literally Bought Bitcoin for8 to 9,000 us what is Of course absolutely massive here also Around $22,000 you could also buy it With an approximately 40% discount so I Mean this is of course absolutely crazy And this could be turning out to be very Great investment and I think the people That are actually speculating on bitcoin SP ETF is going to be happening are Actually right now buying graay scale so That is really what I'm looking at right Now here further on we can really see That Bitcoin of course still is creating That massive downward opening resistance Line and my question really remains when Are we're going to be breaking above it Because as soon as we do break Above This level I will be expecting we're Going to see some massive moves getting Created and ethereum is right now Hanging on maybe the most important Weekly support out there and if we break Below this level potentially we could be Heading lower for ethereum and yes that Is why I should be watching this level Very closely because in three days from Now on we're going to of course close The weekly candle once again here and if Ethereum breaks below this level we Could be in some more problems right Here but anyways this was it for me in Today's update video thank you so much For watching and I'll see you guys on

The next one peace out goodbye why

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